Once regarded as technology waiting for an application, mixed reality is on the verge of no longer suffering from mixed fortunes and is projected to be worth more than $43bn in the next five years, up from an estimated $8bn by the end of 2019, according to a study from Juniper Research.
The study – Augmented & mixed reality: Impact assessments, sector analysis & forecasts 2019-2024 – defines mixed reality as overlays of interactive digital images and videos onto the real word through a smartphone, tablet or smartglasses, and has identified 5G networks and edge computing as two key emerging technologies that will accelerate the development of services from 2020.
It also argued that deployment of cloud computing capabilities to deliver high-value mixed reality content is crucial to future success. It forecast that migrating processing power to the cloud would enable manufacturers to reduce device sizes and minimise the social cost of public device use.
The research forecast that three-quarters of consumer mixed reality will be attributable to smartphone apps by 2024. It found that the immediate base of nearly six billion smartphone users, combined with established content distribution in the form of app stores, will drive content development to smartphone devices.
“We expect social media applications to account for 40% of all consumer mixed reality revenues by 2024,” remarked research author Sam Barker. “Third party content delivered on these apps has been key to their success, therefore investment in content development frameworks will increase their apps’ content library with minimal investment.”
Read more about 5G and mixed reality
- In what it claims is a UK first, BT has enabled 5G applications for Belfast Harbour to deploy in its vision to create a smart port and an iconic waterfront for the city.
- Augmented reality and mixed reality technology can transform troubleshooting and learning in all industries.
- Vodafone’s 5G network goes live in Gatwick Airport’s South Terminal.
- Singapore’s telco regulator will award 5G spectrum to mobile operators by mid-2020, culminating in the deployment of two nationwide 5G networks by the end of 2022.
- It may already enjoy pricing and technological advantages, but Huawei is calling on the 5G industry to collaborate more, especially with regard to regulatory policy.